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Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $208,140 Selling expenses 69,530 Administrative expenses 36,760 Sales 442,850 Finished goods inventory, January 1 50,040 Finished goods inventory, January 31 45,610 a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Sales X 442,850 Cost of goods sold x 212,570 Cost of goods manufactured x 69,530 X Administrative expenses X 36,760 X Cost of goods manufactured x 123,990 X

Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $208,140 Selling expenses 69,530 Administrative expenses 36,760 Sales 442,850 Finished goods inventory, January 1 50,040 Finished goods inventory, January 31 45,610 a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Sales X 442,850 Cost of goods sold x 212,570 Cost of goods manufactured x 69,530 X Administrative expenses X 36,760 X Cost of goods manufactured x 123,990 X

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 8PPS
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Feedback Check My Work a. Add the cost of goods manufactured to the beginning finished goods. Subtract the ending finished goods. b. For the month ended January 31, determine Bandera Manufacturing's gross profit. Bandera Manufacturing Company Gross Profit January 31 Finished goods Inventory, January 1 x 50,040 x Selling expenses X 45,610 x Cost of goods available for sale x 208,140 X Feedback V Check My Work b. Sales minus cost of goods sold equals gross profit. C. For the month ended January 31. determine Bandera Manufacturing's net income.
Transcribed Image Text:Feedback Check My Work a. Add the cost of goods manufactured to the beginning finished goods. Subtract the ending finished goods. b. For the month ended January 31, determine Bandera Manufacturing's gross profit. Bandera Manufacturing Company Gross Profit January 31 Finished goods Inventory, January 1 x 50,040 x Selling expenses X 45,610 x Cost of goods available for sale x 208,140 X Feedback V Check My Work b. Sales minus cost of goods sold equals gross profit. C. For the month ended January 31. determine Bandera Manufacturing's net income.
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $208,140 Selling expenses 69,530 Administrative expenses 36,760 Sales 442,850 Finished goods inventory, January 1 50,040 Finished goods inventory, January 31 45,610 a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Sales X 442,850 X Cost of goods sold x 212,570 x Cost of goods manufactured x 69,530 x Administrative expenses X 36,760 X Cost of goods manufactured x 123,990 X
Transcribed Image Text:Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $208,140 Selling expenses 69,530 Administrative expenses 36,760 Sales 442,850 Finished goods inventory, January 1 50,040 Finished goods inventory, January 31 45,610 a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Sales X 442,850 X Cost of goods sold x 212,570 x Cost of goods manufactured x 69,530 x Administrative expenses X 36,760 X Cost of goods manufactured x 123,990 X
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